SHORTS MAY WELL LOSE THIS BATTLE!
Now, let's not get too excited! Remember, from last week's Battle Zone discussion, we have been chop-chop-choppy in our CL charts for weeks now.
I think that in fact, OIL sucks as a trade right now UNTIL we RESOLVE or move out of the Battle Zone.
In the meantime, of course, you can trade these small ranges and make a living, esp with multiple contracts and being VERY disciplined to bail when your chose range breaks....
This means CLOSING A LOSER as soon as you see one to three ticks of broken price action (move in this case ABOVE 52.99 or 53.38) or below 52 flat which is our long break level.
AGAIN, notice that the 50.71 long and our NEAREST SHORT both have ROUNDED LEVELS as BREAK LINES which is another fact that supports my approach to CL as opposed to blindly trading reversals or Bollingers, trend lines and so on (MACD's, Stochastics, all lagging).
THERE IS NOT MORE POWERFUL indicator than PRICE and in our CL, there are KEY levels which we can watch, these C-Levels) and take on trades and take off trades around those levels.
If you do not believe me, then use a blank chart and add a HORIZONTAL price line at each rounded level and watch price react accordingly.
It will blow your mind and it is ONLY HERE that we know how Crude behaves.
That is why I am so excited to be alive and well and awake each morning about this time.
Dave
I think that in fact, OIL sucks as a trade right now UNTIL we RESOLVE or move out of the Battle Zone.
In the meantime, of course, you can trade these small ranges and make a living, esp with multiple contracts and being VERY disciplined to bail when your chose range breaks....
This means CLOSING A LOSER as soon as you see one to three ticks of broken price action (move in this case ABOVE 52.99 or 53.38) or below 52 flat which is our long break level.
AGAIN, notice that the 50.71 long and our NEAREST SHORT both have ROUNDED LEVELS as BREAK LINES which is another fact that supports my approach to CL as opposed to blindly trading reversals or Bollingers, trend lines and so on (MACD's, Stochastics, all lagging).
THERE IS NOT MORE POWERFUL indicator than PRICE and in our CL, there are KEY levels which we can watch, these C-Levels) and take on trades and take off trades around those levels.
If you do not believe me, then use a blank chart and add a HORIZONTAL price line at each rounded level and watch price react accordingly.
It will blow your mind and it is ONLY HERE that we know how Crude behaves.
That is why I am so excited to be alive and well and awake each morning about this time.
Dave
Comments
Post a Comment
Please feel free to add comments, post questions and your own charts.